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As its advantage in cheap labor fades, China has encouraged domestic manufacturers to move up global value chain. The "Made in China 2025" strategy, equivalent to Germany's Industry 4.0, was announced in 2015.

As of 3 pm on Saturday, the rescue was still in progress and no missing persons have been found.

As of the end of 2018, the balance of loans offered by banking institutions to small and micro-sized enterprises, as well as small and micro-business owners, was 33.5 trillion yuan ( trillion).

As per a guideline issued by the municipal government, the new project will promote breakfast service in convenience stores, retailers and on internet platforms. It will encourage companies to come up with new products with balanced nutrition and promote the use of eco-friendly packaging materials.

As of May, an estimated 160,000 Hong Kong residents had applied for residence permits in Guangdong, and about 50,000 of them live in Shenzhen, Lam said. There are 80,000 Hong Kong enterprises in Shenzhen, accounting for 85 percent of Shenzhen investments from outside the Chinese mainland.